SAB net profit rises 23% to SAR 4.06B in H1 2024; Q2 at SAR 2.01B

05/08/2024 Argaam Exclusive

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Saudi Awwal Bank (SAB) reported SAR 4.06 billion in net profit for H1 2024, a rise of 23% from SAR 3.31 billion in the corresponding period last year.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Net Special Commission Income	5,061.38	5,441.89	7.5 %
Operating Income	6,284.32	6,939.03	10.4 %
Total Provisions	(367.49)	(192.87)	47.5 %
Net Income	3,314.42	4,061.28	22.5 %
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	1.61	1.98	22.5 %
EPS Diluted (Riyals)	1.61	1.90	17.8 %

The annual profit rise came thanks to the 26% year-on-year (YoY) hike in the first-half gross special commission income, driven mainly by the impact of interest rate hikes and increased borrowing. Net commission income also climbed 8% YoY for the same period amid higher special commission expenses on term deposits.

This is in addition to the 48% YoY decline in the provision for expected credit losses during the current six-month period, besides a lower provision for Zakat and income tax.

Moreover, the bank’s H1 2024 operating income advanced YoY due to higher net fees and commission income, foreign exchange income and gains on financial instruments at fair value through other comprehensive income (FVOCI).

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Net Special Commission Income	2,527.34	2,733.13	8.1 %
Operating Income	3,066.74	3,491.61	13.9 %
Debt Provisions	(138.52)	(112.22)	19.0 %
Net Income	1,549.85	2,018.26	30.2 %
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	0.75	0.98	30.2 %
EPS Diluted (Riyal)	0.75	0.94	24.6 %

Item	Q1 2024	Q2 2024	Change‬
Net Special Commission Income	2,708.75	2,733.13	0.9 %
Operating Income	3,447.42	3,491.61	1.3 %
Debt Provisions	(80.66)	(112.22)	(39.1 %)
Net Income	2,043.02	2,018.26	(1.2 %)
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	0.99	0.98	(1.2 %)
EPS Diluted (Riyal)	0.96	0.94	(2.1 %)

In Q2 2024, net earnings leapt by 30% to SAR 2.01 billion, from SAR 1.55 billion in Q2 2023.

Sequentially, SAB’s bottom line tumbled 1.2% from SAR 2.04 billion in Q1 2024.

Balance Sheet (B)

Item	6m 2023	6m 2024	Change‬
Assets	334.91	382.30	14.2 %
Customer Deposits	222.73	264.43	18.7 %
Loan	198.67	241.55	21.6 %

Shareholders' equity, with no minority interest and sukuk, amounted to SAR 58.75 billion by the end of June 30, 2024, compared to SAR 56.69 billion in the prior-year period.

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
Q1 2015	1,031.46	7.4 %	1,717.18	5.9 %	(115.59)	1.7 %
Q2 2015	1,067.05	5.8 %	1,674.98	0.7 %	(113.05)	(38.9 %)
Q3 2015	1,079.01	4.8 %	1,689.26	2.1 %	(88.00)	44.2 %
Q4 2015	1,076.35	1.2 %	1,549.21	(0.9 %)	(113.08)	(21.5 %)
2015	4,253.88	4.7 %	6,630.63	2.0 %	(429.72)	4.5 %
Q1 2016	1,116.67	8.3 %	1,795.56	4.6 %	(144.97)	(25.4 %)
Q2 2016	1,181.84	10.8 %	1,761.11	5.1 %	(103.29)	8.6 %
Q3 2016	1,222.36	13.3 %	1,687.30	(0.1 %)	(189.53)	(115.4 %)
Q4 2016	1,236.05	14.8 %	1,664.64	7.5 %	(506.78)	(348.2 %)
2016	4,756.92	11.8 %	6,908.60	4.2 %	(944.56)	(119.8 %)
Q1 2017	1,250.65	12.0 %	1,824.07	1.6 %	(226.29)	(56.1 %)
Q2 2017	1,284.32	8.7 %	1,800.61	2.2 %	(164.90)	(59.7 %)
Q3 2017	1,258.28	2.9 %	1,763.89	4.5 %	(168.78)	10.9 %
Q4 2017	1,304.64	5.5 %	1,738.34	4.4 %	(441.85)	12.8 %
2017	5,097.88	7.2 %	7,126.91	3.2 %	(1,001.83)	(6.1 %)
Q1 2018	1,322.55	5.7 %	1,761.65	(3.4 %)	(207.25)	8.4 %
Q2 2018	1,390.51	8.3 %	1,868.53	3.8 %	90.82	155.1 %
Q3 2018	1,413.74	12.4 %	1,861.35	5.5 %	(87.02)	48.4 %
Q4 2018	1,450.53	11.2 %	1,831.32	5.3 %	(55.58)	87.4 %
2018	5,577.33	9.4 %	7,322.84	2.7 %	(259.03)	74.1 %
Q1 2019	1,486.94	12.4 %	1,970.01	11.8 %	(90.78)	56.2 %
Q2 2019	1,609.90	15.8 %	2,010.61	7.6 %	(1,591.65)	(1852.6 %)
Q3 2019	2,084.30	47.4 %	2,669.65	43.4 %	(182.05)	(109.2 %)
Q4 2019	1,998.49	37.8 %	2,563.05	40.0 %	(636.70)	(1,045.6 %)
2019	7,179.63	28.7 %	9,213.32	25.8 %	(2,501.18)	(865.6 %)
Q1 2020	1,902.58	28.0 %	2,368.89	20.2 %	(239.07)	(163.4 %)
Q2 2020	1,815.14	12.7 %	2,318.10	15.3 %	(1,308.78)	17.8 %
Q3 2020	1,657.57	(20.5 %)	2,141.36	(19.8 %)	(51.10)	71.9 %
Q4 2020	1,497.43	(25.1 %)	2,049.61	(20.0 %)	(31.98)	95.0 %
2020	6,872.71	(4.3 %)	8,877.97	(3.6 %)	(1,630.93)	34.8 %
Q1 2021	1,426.82	(25.0 %)	2,021.53	(14.7 %)	(1.67)	99.3 %
Q2 2021	1,467.28	(19.2 %)	1,946.78	(16.0 %)	(25.58)	98.0 %
Q3 2021	1,406.69	(15.1 %)	1,935.43	(9.6 %)	(13.00)	74.6 %
Q4 2021	1,416.44	(5.4 %)	1,805.51	(11.9 %)	(413.50)	(1,192.8 %)
2021	5,717.22	(16.8 %)	7,678.36	(13.5 %)	(453.74)	72.2 %
Q1 2022	1,413.65	(0.9 %)	2,012.53	(0.4 %)	(59.78)	(3,484.1 %)
Q2 2022	1,718.26	17.1 %	2,241.94	15.2 %	(135.90)	(431.3 %)
Q3 2022	1,984.84	41.1 %	2,506.57	29.5 %	(37.51)	(188.7 %)
Q4 2022	2,291.54	61.8 %	2,780.59	54.0 %	(212.07)	48.7 %
2022	7,408.29	29.6 %	9,541.63	24.3 %	(445.26)	1.9 %
Q1 2023	2,534.04	79.3 %	3,217.57	59.9 %	(228.96)	(283.0 %)
Q2 2023	2,527.34	47.1 %	3,066.74	36.8 %	(138.52)	(1.9 %)
Q3 2023	2,578.56	29.9 %	3,247.28	29.6 %	(144.38)	(284.9 %)
Q4 2023	2,701.54	17.9 %	3,178.87	14.3 %	(50.58)	76.2 %
2023	10,341.47	39.6 %	12,710.46	33.2 %	(562.44)	(26.3 %)
Q1 2024	2,708.75	6.9 %	3,447.42	7.1 %	(80.66)	64.8 %
Q2 2024	2,733.13	8.1 %	3,491.61	13.9 %	(112.22)	19.0 %

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
2014	4,062.61	9.2 %	6,502.21	11.8 %	(449.81)	(20.2 %)
2015	4,253.88	4.7 %	6,630.63	2.0 %	(429.72)	4.5 %
2016	4,756.92	11.8 %	6,908.60	4.2 %	(944.56)	(119.8 %)
2017	5,097.88	7.2 %	7,126.91	3.2 %	(1,001.83)	(6.1 %)
2018	5,577.33	9.4 %	7,322.84	2.7 %	(259.03)	74.1 %
2019	7,179.63	28.7 %	9,213.32	25.8 %	(2,501.18)	(865.6 %)
2020	6,872.71	(4.3 %)	8,877.97	(3.6 %)	(1,630.93)	34.8 %
2021	5,717.22	(16.8 %)	7,678.36	(13.5 %)	(453.74)	72.2 %
2022	7,408.29	29.6 %	9,541.63	24.3 %	(445.26)	1.9 %
2023	10,341.47	39.6 %	12,710.46	33.2 %	(562.44)	(26.3 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	1,115.19	3.2 %	0.74	-	1,115.19	0.74
Q2 2015	1,137.26	(1.7 %)	0.76	-	1,137.26	0.76
Q3 2015	1,139.56	7.6 %	0.76	-	1,139.56	0.76
Q4 2015	938.54	(3.2 %)	0.63	-	938.54	0.63
2015	4,330.55	1.5 %	2.89	-	4,330.55	2.89
Q1 2016	1,141.68	2.4 %	0.76	-	1,141.68	0.76
Q2 2016	1,151.65	1.3 %	0.77	-	1,151.65	0.77
Q3 2016	994.82	(12.7 %)	0.66	-	994.82	0.66
Q4 2016	606.58	(35.4 %)	0.40	-	606.58	0.40
2016	3,894.73	(10.1 %)	2.60	-	3,894.73	2.60
Q1 2017	1,035.98	(9.3 %)	0.69	-	1,035.98	0.69
Q2 2017	1,129.16	(2.0 %)	0.75	-	1,129.16	0.75
Q3 2017	1,083.32	8.9 %	0.72	-	1,083.32	0.72
Q4 2017	706.11	16.4 %	0.47	-	706.11	0.47
2017	3,954.58	1.5 %	2.64	-	3,954.58	2.64
Q1 2018	975.40	(5.8 %)	0.65	-	975.40	0.65
Q2 2018	832.59	(26.3 %)	0.56	-	832.59	0.56
Q3 2018	1,061.37	(2.0 %)	0.71	-	1,061.37	0.71
Q4 2018	(153.92)	(121.8 %)	(0.10)	(1053.40)	899.48	0.60
2018	2,715.44	(31.3 %)	1.81	(1053.40)	3,768.84	2.51
Q1 2019	1,108.55	13.7 %	0.58	(58.00)	1,166.55	0.61
Q2 2019	(188.13)	(122.6 %)	(0.10)	(75.00)	(113.13)	(0.06)
Q3 2019	1,177.99	11.0 %	0.61	(137.00)	1,314.99	0.69
Q4 2019	660.10	528.9 %	0.34	(147.00)	807.10	0.42
2019	2,754.26	1.4 %	1.44	(417.00)	3,171.26	1.66
Q1 2020	975.59	(12.0 %)	0.47	(95.00)	1,070.59	0.52
Q2 2020	(6862.85)	(3,547.9 %)	(3.34)	(7509.78)	646.93	0.31
Q3 2020	1,049.99	(10.9 %)	0.51	(114.00)	1,163.99	0.57
Q4 2020	681.88	3.3 %	0.33	(199.00)	880.88	0.43
2020	(4155.39)	(250.9 %)	(2.02)	(7917.78)	3,762.38	1.83
Q1 2021	973.71	(0.2 %)	0.47	-	973.71	0.47
Q2 2021	918.50	113.4 %	0.45	-	918.50	0.45
Q3 2021	885.30	(15.7 %)	0.43	-	885.30	0.43
Q4 2021	426.92	(37.4 %)	0.21	-	426.92	0.21
2021	3,204.43	177.1 %	1.56	-	3,204.43	1.56
Q1 2022	1,006.22	3.3 %	0.49	-	1,006.22	0.49
Q2 2022	1,082.67	17.9 %	0.53	-	1,082.67	0.53
Q3 2022	1,504.54	69.9 %	0.73	108.60	1,395.94	0.68
Q4 2022	1,234.18	189.1 %	0.60	(6.56)	1,240.74	0.60
2022	4,827.61	50.7 %	2.35	102.04	4,725.57	2.30
Q1 2023	1,764.57	75.4 %	0.86	-	1,764.57	0.86
Q2 2023	1,549.85	43.2 %	0.75	-	1,549.85	0.75
Q3 2023	1,830.33	21.7 %	0.89	-	1,830.33	0.89
Q4 2023	1,857.63	50.5 %	0.90	-	1,857.63	0.90
2023	7,002.37	45.0 %	3.41	-	7,002.37	3.41
Q1 2024	2,043.02	15.8 %	0.99	-	2,043.02	0.99
Q2 2024	2,018.26	30.2 %	0.98	-	2,018.26	0.98

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	4,266.06	13.0 %	2.84	-	4,266.06	2.84
2015	4,330.55	1.5 %	2.89	-	4,330.55	2.89
2016	3,894.73	(10.1 %)	2.60	-	3,894.73	2.60
2017	3,954.58	1.5 %	2.64	-	3,954.58	2.64
2018	2,715.44	(31.3 %)	1.81	(1053.40)	3,768.84	2.51
2019	2,754.26	1.4 %	1.44	(417.00)	3,171.26	1.66
2020	(4155.39)	(250.9 %)	(2.02)	(7917.78)	3,762.38	1.83
2021	3,204.43	177.1 %	1.56	-	3,204.43	1.56
2022	4,827.61	50.7 %	2.35	102.04	4,725.57	2.30
2023	7,002.37	45.0 %	3.41	-	7,002.37	3.41

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
Q1 2015	2.35 %	17.51 %	62.64 %
Q2 2015	2.33 %	16.66 %	63.42 %
Q3 2015	2.29 %	16.52 %	63.84 %
Q4 2015	2.31 %	15.97 %	64.15 %
2015	2.31 %	15.97 %	64.15 %
Q1 2016	2.28 %	15.92 %	64.68 %
Q2 2016	2.28 %	15.32 %	65.54 %
Q3 2016	2.21 %	14.69 %	67.67 %
Q4 2016	2.08 %	13.10 %	68.85 %
2016	2.08 %	13.10 %	68.85 %
Q1 2017	2.01 %	12.51 %	70.50 %
Q2 2017	2.01 %	12.04 %	71.57 %
Q3 2017	2.11 %	12.26 %	71.31 %
Q4 2017	2.12 %	12.24 %	71.53 %
2017	2.12 %	12.24 %	71.53 %
Q1 2018	2.12 %	12.22 %	73.18 %
Q2 2018	1.97 %	10.95 %	73.97 %
Q3 2018	2.02 %	10.90 %	75.13 %
Q4 2018	1.50 %	8.25 %	76.16 %
2018	1.50 %	8.25 %	76.16 %
Q1 2019	1.60 %	8.66 %	76.24 %
Q2 2019	0.81 %	4.14 %	77.69 %
Q3 2019	0.90 %	4.43 %	78.19 %
Q4 2019	1.25 %	6.24 %	77.93 %
2019	1.25 %	6.23 %	77.93 %
Q1 2020	1.19 %	5.86 %	79.02 %
Q2 2020	(1.51 %)	(7.82 %)	78.64 %
Q3 2020	(1.60 %)	(7.98 %)	78.52 %
Q4 2020	(1.53 %)	(7.79 %)	77.41 %
2020	(1.53 %)	(7.79 %)	77.41 %
Q1 2021	(1.55 %)	(7.74 %)	74.99 %
Q2 2021	1.34 %	7.18 %	74.14 %
Q3 2021	1.30 %	6.77 %	72.90 %
Q4 2021	1.17 %	6.19 %	74.16 %
2021	1.17 %	6.19 %	74.46 %
Q1 2022	1.17 %	6.13 %	74.08 %
Q2 2022	1.18 %	6.38 %	74.48 %
Q3 2022	1.41 %	7.59 %	76.26 %
Q4 2022	1.65 %	8.98 %	77.64 %
2022	1.65 %	8.98 %	77.64 %
Q1 2023	1.83 %	10.09 %	79.36 %
Q2 2023	1.90 %	10.96 %	80.70 %
Q3 2023	1.99 %	11.71 %	80.66 %
Q4 2023	2.09 %	12.44 %	81.36 %
2023	2.09 %	12.44 %	81.36 %
Q1 2024	2.08 %	12.55 %	81.27 %
Q2 2024	2.16 %	13.42 %	80.22 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
2014	2.34 %	17.45 %	62.48 %
2015	2.31 %	15.97 %	64.15 %
2016	2.08 %	13.10 %	68.85 %
2017	2.12 %	12.24 %	71.53 %
2018	1.50 %	8.25 %	76.16 %
2019	1.25 %	6.23 %	77.93 %
2020	(1.53 %)	(7.79 %)	77.41 %
2021	1.17 %	6.19 %	74.46 %
2022	1.65 %	8.98 %	77.64 %
2023	2.09 %	12.44 %	81.36 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
Q1 2015	190.16	8.4 %	149.00	8.8 %	120.43	9.6 %
Q2 2015	192.33	9.6 %	151.10	9.3 %	126.96	12.6 %
Q3 2015	197.20	7.8 %	155.85	8.5 %	129.57	11.1 %
Q4 2015	187.75	0.1 %	148.89	2.1 %	125.95	9.3 %
Q1 2016	191.79	0.9 %	151.88	1.9 %	130.56	8.4 %
Q2 2016	191.87	(0.2 %)	150.27	(0.6 %)	131.10	3.3 %
Q3 2016	185.90	(5.7 %)	144.08	(7.5 %)	125.87	(2.9 %)
Q4 2016	186.06	(0.9 %)	140.64	(5.5 %)	120.96	(4.0 %)
Q1 2017	185.26	(3.4 %)	141.57	(6.8 %)	119.49	(8.5 %)
Q2 2017	182.52	(4.9 %)	138.31	(8.0 %)	117.88	(10.1 %)
Q3 2017	179.48	(3.5 %)	134.57	(6.6 %)	116.69	(7.3 %)
Q4 2017	187.62	0.8 %	140.24	(0.3 %)	117.01	(3.3 %)
Q1 2018	182.62	(1.4 %)	135.39	(4.4 %)	116.49	(2.5 %)
Q2 2018	183.13	0.3 %	132.93	(3.9 %)	113.36	(3.8 %)
Q3 2018	175.05	(2.5 %)	129.33	(3.9 %)	112.13	(3.9 %)
Q4 2018	174.68	(6.9 %)	130.51	(6.9 %)	110.33	(5.7 %)
Q1 2019	173.78	(4.8 %)	127.24	(6.0 %)	110.36	(5.3 %)
Q2 2019	270.82	47.9 %	196.16	47.6 %	154.96	36.7 %
Q3 2019	258.49	47.7 %	183.41	41.8 %	149.34	33.2 %
Q4 2019	265.99	52.3 %	192.17	47.2 %	152.08	37.8 %
Q1 2020	265.69	52.9 %	188.28	48.0 %	155.18	40.6 %
Q2 2020	266.99	(1.4 %)	188.36	(4.0 %)	152.95	(1.3 %)
Q3 2020	263.96	2.1 %	180.20	(1.8 %)	151.89	1.7 %
Q4 2020	276.45	3.9 %	189.11	(1.6 %)	153.24	0.8 %
Q1 2021	271.56	2.2 %	183.69	(2.4 %)	156.71	1.0 %
Q2 2021	272.94	2.2 %	186.83	(0.8 %)	161.44	5.6 %
Q3 2021	269.55	2.1 %	180.25	0.0 %	163.50	7.6 %
Q4 2021	272.40	(1.5 %)	186.76	(1.2 %)	167.56	9.3 %
Q1 2022	282.69	4.1 %	193.89	5.6 %	176.15	12.4 %
Q2 2022	302.54	10.8 %	207.45	11.0 %	176.21	9.1 %
Q3 2022	300.10	11.3 %	202.86	12.5 %	183.16	12.0 %
Q4 2022	314.40	15.4 %	214.28	14.7 %	183.13	9.3 %
Q1 2023	328.88	16.3 %	225.98	16.6 %	191.00	8.4 %
Q2 2023	334.91	10.7 %	222.73	7.4 %	198.67	12.7 %
Q3 2023	340.48	13.5 %	228.05	12.4 %	211.40	15.4 %
Q4 2023	356.64	13.4 %	240.94	12.4 %	215.94	17.9 %
Q1 2024	369.61	12.4 %	251.76	11.4 %	228.54	19.7 %
Q2 2024	382.30	14.1 %	264.43	18.7 %	241.55	21.6 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
3m 2015	190.16	8.4 %	149.00	8.8 %	120.43	9.6 %
6m 2015	192.33	9.6 %	151.10	9.3 %	126.96	12.6 %
9m 2015	197.20	7.8 %	155.85	8.5 %	129.57	11.1 %
12m 2015	187.75	0.1 %	148.89	2.1 %	125.95	9.3 %
3m 2016	191.79	0.9 %	151.88	1.9 %	130.56	8.4 %
6m 2016	191.87	(0.2 %)	150.27	(0.6 %)	131.10	3.3 %
9m 2016	185.90	(5.7 %)	144.08	(7.5 %)	125.87	(2.9 %)
12m 2016	186.06	(0.9 %)	140.64	(5.5 %)	120.96	(4.0 %)
3m 2017	185.26	(3.4 %)	141.57	(6.8 %)	119.49	(8.5 %)
6m 2017	182.52	(4.9 %)	138.31	(8.0 %)	117.88	(10.1 %)
9m 2017	179.48	(3.5 %)	134.57	(6.6 %)	116.69	(7.3 %)
12m 2017	187.62	0.8 %	140.24	(0.3 %)	117.01	(3.3 %)
3m 2018	182.62	(1.4 %)	135.39	(4.4 %)	116.49	(2.5 %)
6m 2018	183.13	0.3 %	132.93	(3.9 %)	113.36	(3.8 %)
9m 2018	175.05	(2.5 %)	129.33	(3.9 %)	112.13	(3.9 %)
12m 2018	174.68	(6.9 %)	130.51	(6.9 %)	110.33	(5.7 %)
3m 2019	173.78	(4.8 %)	127.24	(6.0 %)	110.36	(5.3 %)
6m 2019	270.82	47.9 %	196.16	47.6 %	154.96	36.7 %
9m 2019	258.49	47.7 %	183.41	41.8 %	149.34	33.2 %
12m 2019	265.99	52.3 %	192.17	47.2 %	152.08	37.8 %
3m 2020	265.69	52.9 %	188.28	48.0 %	155.18	40.6 %
6m 2020	266.99	(1.4 %)	188.36	(4.0 %)	152.95	(1.3 %)
9m 2020	263.96	2.1 %	180.20	(1.8 %)	151.89	1.7 %
12m 2020	276.45	3.9 %	189.11	(1.6 %)	153.24	0.8 %
3m 2021	271.56	2.2 %	183.69	(2.4 %)	156.71	1.0 %
6m 2021	272.94	2.2 %	186.83	(0.8 %)	161.44	5.6 %
9m 2021	269.55	2.1 %	180.25	0.0 %	163.50	7.6 %
12m 2021	272.40	(1.5 %)	186.76	(1.2 %)	167.56	9.3 %
3m 2022	282.69	4.1 %	193.89	5.6 %	176.15	12.4 %
6m 2022	302.54	10.8 %	207.45	11.0 %	176.21	9.1 %
9m 2022	300.10	11.3 %	202.86	12.5 %	183.16	12.0 %
12m 2022	314.40	15.4 %	214.28	14.7 %	183.13	9.3 %
3m 2023	328.88	16.3 %	225.98	16.6 %	191.00	8.4 %
6m 2023	334.91	10.7 %	222.73	7.4 %	198.67	12.7 %
9m 2023	340.48	13.5 %	228.05	12.4 %	211.40	15.4 %
12m 2023	356.64	13.4 %	240.94	12.4 %	215.94	17.9 %
3m 2024	369.61	12.4 %	251.76	11.4 %	228.54	19.7 %
6m 2024	382.30	14.1 %	264.43	18.7 %	241.55	21.6 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
2014	187.61	5.8 %	145.87	5.0 %	115.22	8.6 %
2015	187.75	0.1 %	148.89	2.1 %	125.95	9.3 %
2016	186.06	(0.9 %)	140.64	(5.5 %)	120.96	(4.0 %)
2017	187.62	0.8 %	140.24	(0.3 %)	117.01	(3.3 %)
2018	174.68	(6.9 %)	130.51	(6.9 %)	110.33	(5.7 %)
2019	265.99	52.3 %	192.17	47.2 %	152.08	37.8 %
2020	276.45	3.9 %	189.11	(1.6 %)	153.24	0.8 %
2021	272.40	(1.5 %)	186.76	(1.2 %)	167.56	9.3 %
2022	314.40	15.4 %	214.28	14.7 %	183.13	9.3 %
2023	356.64	13.4 %	240.94	12.4 %	215.94	17.9 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
Q1 2015	78.36 %	63.33 %	80.83 %
Q2 2015	78.57 %	66.01 %	84.02 %
Q3 2015	79.03 %	65.71 %	83.14 %
Q4 2015	79.30 %	67.08 %	84.59 %
Q1 2016	79.19 %	68.07 %	85.97 %
Q2 2016	78.32 %	68.33 %	87.24 %
Q3 2016	77.50 %	67.71 %	87.36 %
Q4 2016	75.59 %	65.02 %	86.01 %
Q1 2017	76.42 %	64.50 %	84.40 %
Q2 2017	75.78 %	64.59 %	85.23 %
Q3 2017	74.97 %	65.01 %	86.71 %
Q4 2017	74.75 %	62.36 %	83.43 %
Q1 2018	74.14 %	63.79 %	86.04 %
Q2 2018	72.59 %	61.90 %	85.28 %
Q3 2018	73.88 %	64.06 %	86.70 %
Q4 2018	74.71 %	63.16 %	84.54 %
Q1 2019	73.22 %	63.50 %	86.73 %
Q2 2019	72.43 %	57.22 %	79.00 %
Q3 2019	70.96 %	57.77 %	81.42 %
Q4 2019	72.25 %	57.17 %	79.14 %
Q1 2020	70.86 %	58.41 %	82.42 %
Q2 2020	70.55 %	57.29 %	81.20 %
Q3 2020	68.27 %	57.54 %	84.29 %
Q4 2020	68.41 %	55.43 %	81.03 %
Q1 2021	67.64 %	57.71 %	85.31 %
Q2 2021	68.45 %	59.15 %	86.41 %
Q3 2021	66.87 %	60.66 %	90.71 %
Q4 2021	68.56 %	61.51 %	89.72 %
Q1 2022	68.59 %	62.31 %	90.85 %
Q2 2022	68.57 %	58.25 %	84.94 %
Q3 2022	67.60 %	61.03 %	90.29 %
Q4 2022	68.15 %	58.25 %	85.46 %
Q1 2023	68.71 %	58.08 %	84.52 %
Q2 2023	66.50 %	59.32 %	89.20 %
Q3 2023	66.98 %	62.09 %	92.70 %
Q4 2023	67.56 %	60.55 %	89.62 %
Q1 2024	68.11 %	61.83 %	90.78 %
Q2 2024	69.17 %	63.18 %	91.35 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
2014	77.75 %	61.42 %	78.99 %
2015	79.30 %	67.08 %	84.59 %
2016	75.59 %	65.02 %	86.01 %
2017	74.75 %	62.36 %	83.43 %
2018	74.71 %	63.16 %	84.54 %
2019	72.25 %	57.17 %	79.14 %
2020	68.41 %	55.43 %	81.03 %
2021	68.56 %	61.51 %	89.72 %
2022	68.15 %	58.25 %	85.46 %
2023	67.56 %	60.55 %	89.62 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2015	1,500.00	2.87	2.87	-	17.40
Q2 2015	1,500.00	2.85	2.85	-	18.17
Q3 2015	1,500.00	2.91	2.91	-	18.27
Q4 2015	1,500.00	2.89	2.89	-	18.78
Q1 2016	1,500.00	2.90	2.90	-	19.09
Q2 2016	1,500.00	2.91	2.91	-	19.87
Q3 2016	1,500.00	2.82	2.82	-	20.10
Q4 2016	1,500.00	2.60	2.60	-	20.85
Q1 2017	1,500.00	2.53	2.53	-	21.30
Q2 2017	1,500.00	2.51	2.51	-	21.83
Q3 2017	1,500.00	2.57	2.57	-	21.83
Q4 2017	1,500.00	2.64	2.64	-	22.23
Q1 2018	1,500.00	2.60	2.60	-	21.18
Q2 2018	1,500.00	2.40	2.40	-	21.98
Q3 2018	1,500.00	2.38	2.38	-	21.89
Q4 2018	1,500.00	1.81	2.51	-	21.64
Q1 2019	1,916.10	1.49	2.07	-	22.67
Q2 2019	1,916.10	0.95	1.57	-	26.91
Q3 2019	1,916.10	1.01	1.71	-	26.77
Q4 2019	1,916.10	1.44	1.66	-	27.25
Q1 2020	2,054.80	1.28	1.50	-	27.04
Q2 2020	2,054.80	(1.97)	1.87	-	23.46
Q3 2020	2,054.80	(2.03)	1.80	-	24.18
Q4 2020	2,054.80	(2.02)	1.83	(2.03)	24.65
Q1 2021	2,054.80	(2.02)	1.78	(2.03)	25.27
Q2 2021	2,054.80	1.76	1.92	1.76	25.69
Q3 2021	2,054.80	1.68	1.78	1.68	25.55
Q4 2021	2,054.80	1.56	1.56	1.56	25.76
Q1 2022	2,054.80	1.58	1.58	1.58	26.12
Q2 2022	2,054.80	1.66	1.66	1.66	26.19
Q3 2022	2,054.80	1.96	1.90	1.96	26.01
Q4 2022	2,054.80	2.35	2.30	2.35	26.59
Q1 2023	2,054.80	2.72	2.67	2.72	27.76
Q2 2023	2,054.80	2.95	2.90	2.95	27.59
Q3 2023	2,054.80	3.10	3.11	3.10	27.03
Q4 2023	2,054.80	3.41	3.41	3.40	28.19
Q1 2024	2,054.80	3.54	3.54	3.50	28.73
Q2 2024	2,054.80	3.77	3.77	3.69	28.60

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2014	1,500.00	2.84	2.84	-	17.38
2015	1,500.00	2.89	2.89	-	18.78
2016	1,500.00	2.60	2.60	-	20.85
2017	1,500.00	2.64	2.64	-	22.23
2018	1,500.00	1.81	2.51	-	21.64
2019	1,916.10	1.44	1.66	-	27.25
2020	2,054.80	(2.02)	1.83	(2.02)	24.65
2021	2,054.80	1.56	1.56	1.56	25.76
2022	2,054.80	2.35	2.30	2.35	26.59
2023	2,054.80	3.41	3.41	3.41	28.19

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	15.36	15.36	2.53
Q2 2015	15.94	15.94	2.50
Q3 2015	13.15	13.15	2.09
Q4 2015	11.74	11.74	1.81
Q1 2016	10.71	10.71	1.63
Q2 2016	9.55	9.55	1.40
Q3 2016	9.03	9.03	1.27
Q4 2016	13.19	13.19	1.64
Q1 2017	12.26	12.26	1.45
Q2 2017	14.63	14.63	1.68
Q3 2017	14.44	14.44	1.70
Q4 2017	14.03	14.03	1.66
Q1 2018	16.53	16.53	2.03
Q2 2018	18.02	18.02	1.97
Q3 2018	18.39	18.39	2.00
Q4 2018	24.71	17.80	2.07
Q1 2019	27.27	19.61	2.28
Q2 2019	45.75	27.74	1.51
Q3 2019	32.18	19.15	1.14
Q4 2019	25.85	22.45	1.27
Q1 2020	15.82	13.49	0.75
Q2 2020	NEG	12.19	0.97
Q3 2020	NEG	14.09	1.05
Q4 2020	NEG	13.45	1.00
Q1 2021	NEG	14.72	1.04
Q2 2021	17.90	16.47	1.23
Q3 2021	19.73	18.66	1.30
Q4 2021	21.15	21.15	1.28
Q1 2022	25.21	25.21	1.52
Q2 2022	24.59	24.59	1.55
Q3 2022	19.97	20.53	1.51
Q4 2022	16.57	16.93	1.46
Q1 2023	12.96	13.20	1.27
Q2 2023	12.94	13.16	1.38
Q3 2023	11.13	11.12	1.28
Q4 2023	11.15	11.15	1.34
Q1 2024	11.42	11.42	1.39
Q2 2024	10.33	10.33	1.33

Period	P/E	Adjusted P/E	Price/book
2014	18.74	18.74	3.07
2015	11.74	11.74	1.81
2016	13.19	13.19	1.64
2017	14.03	14.03	1.66
2018	24.71	17.80	2.07
2019	25.89	22.48	1.27
2020	NEG	13.52	1.00
2021	21.15	21.15	1.28
2022	16.57	16.93	1.46
2023	11.11	11.11	1.34

Business Segments (Million)

Compared With The

Period	Corporate and Institutional Banking	Retail	Global markets and Treasury	Capital Markets	Securities	Others
Q1 2015	764.09	556.61	396.48	-	-	-
Q2 2015	719.96	610.16	344.86	-	-	-
Q3 2015	793.40	573.68	322.18	-	-	-
Q4 2015	692.91	571.24	285.06	-	-	-
Q1 2016	809.69	567.45	418.42	-	-	-
Q2 2016	816.05	596.58	348.48	-	-	-
Q3 2016	744.91	605.70	298.85	-	-	37.84
Q4 2016	769.26	588.11	307.27	-	-	-
Q1 2017	820.93	629.32	373.81	-	-	-
Q2 2017	813.48	648.25	317.88	-	-	-
Q3 2017	782.34	651.12	298.94	-	-	31.50
Q4 2017	802.81	638.75	296.78	-	-	-
Q1 2018	837.17	636.19	297.53	-	-	(9.24)
Q2 2018	858.65	676.74	297.90	-	-	35.24
Q3 2018	859.33	660.93	305.03	-	-	36.06
Q4 2018	884.78	649.51	299.50	-	-	(2.47)
Q1 2019	974.49	665.28	287.07	-	-	43.18
Q2 2019	1,001.14	702.09	294.50	-	-	12.88
Q3 2019	1,256.87	1,083.30	262.72	-	-	66.75
Q4 2019	1,213.52	1,018.68	310.69	-	-	20.17
Q1 2020	1,161.94	827.87	352.35	-	-	26.74
Q2 2020	1,034.10	794.71	503.14	-	-	(13.86)
Q3 2020	967.46	726.29	447.62	-	-	-
Q4 2020	869.28	813.77	370.56	-	-	(4.00)
Q1 2021	864.31	692.77	458.25	-	-	6.20
Q2 2021	872.68	613.31	413.06	-	-	23.59
Q3 2021	828.72	635.72	462.48	19.15	-	(17.38)
Q4 2021	674.18	580.73	528.64	6.62	-	15.33
Q1 2022	903.95	650.36	469.17	8.09	-	(19.04)
Q2 2022	1,037.29	706.18	489.19	8.60	-	0.68
Q3 2022	1,372.84	731.82	401.03	126.99	-	(17.52)
Q4 2022	1,544.57	737.61	468.85	67.41	-	(37.84)
Q1 2023	1,691.53	813.47	647.53	64.68	-	0.36
Q2 2023	1,653.50	862.95	481.06	80.29	-	(11.05)
Q3 2023	1,779.84	895.42	509.78	81.37	-	(19.13)
Q4 2023	1,744.80	882.00	422.63	111.18	-	18.26
Q1 2024	1,808.97	965.05	564.49	110.23	-	(1.32)
Q2 2024	1,845.08	1,028.32	505.60	111.46	-	1.16

Period	Corporate and Institutional Banking	Retail	Global markets and Treasury	Capital Markets	Securities	Others
2014	2,993.01	2,247.93	1,261.27	-	-	-
2015	2,970.36	2,311.69	1,348.58	-	-	-
2016	3,139.91	2,357.83	1,373.02	-	-	37.84
2017	3,219.56	2,567.44	1,287.42	-	-	52.50
2018	3,439.92	2,623.37	1,199.96	-	-	59.59
2019	4,446.02	3,469.35	1,154.99	-	-	142.97
2020	4,032.78	3,162.64	1,673.66	-	-	8.88
2021	3,239.89	2,522.52	1,862.43	25.77	-	27.74
2022	4,858.65	2,825.98	1,828.23	211.09	-	(73.72)
2023	6,869.68	3,453.83	2,060.99	337.52	-	(11.56)

Analysts Estimates (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change‬
Average	1,876.42	2,018.26	7.56 %

Estimates vs Actual (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change
OSOOL AND BAKHEET	1,959.50	2,018.26	3.0 %
U-Capital	1,906.00	2,018.26	5.9 %
Riyad Capital	1,888.00	2,018.26	6.9 %
Sico	1,884.00	2,018.26	7.1 %
SNB Capital	1,872.00	2,018.26	7.8 %
United Securities Company	1,749.00	2,018.26	15.4 %

Financial Ratios

	Current
Market Cap (M Riyal)	65,239.90
Shares Outstanding ((M))	2,054.80
EPS ( Riyal) (TTM)	3.80
EPS Diluted ( Riyal) (TTM)	3.68
Book Value (BV) ( Riyal)	29.29
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	8.36
P/E (TTM)	8.36
Price/book	1.08
Return on Average Assets (%) (TTM)	2.1
Return on Average Equity (%) (TTM)	13.5

Saudi Awwal Bank (SAB)

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SAB net profit rises 23% to SAR 4.06B in H1 2024; Q2 at SAR 2.01B

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Balance Sheet (B)

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Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q2

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SAB net profit rises 23% to SAR 4.06B in H1 2024; Q2 at SAR 2.01B

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Financials (M)

Current Quarter Comparison (M)

Balance Sheet (B)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Balance Sheet (B)

Balance Sheet Performance (B)

Ratios

Ratios

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2024

Revenue by Business Segment (Latest) 2024 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

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Financial Ratios

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Saudi Awwal Bank (SAB)

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Business Segments (Million)